Just a quick update, I'll have more info later.
But here's the jist of it:
The City of Phoenix is offering a $15,000 incentive to 1st time home buyers!!
BUT!! (there's always a "but") This incentive is only available for certain Fannie Mae foreclosure homes. These homes are completely move in ready!
That's right! Completely refurbished! Including appliances!! Yeah! Move-in-ready!!
AND! These properties will NOT be listed on the MLS!! So, in order to find out about them, you need to talk to a realtor who's got the info from COP! (that would be ME!)
Requirements are basic FHA requirements as far as credit score and DTI (if you don't know what that is, call me).
But you only need 1% down, NOT 3.5%!! That's what the $15,000 is for! to cover down payment, and closing costs, and then whatever else you want!
The $15,000 becomes a "silent Second", with no interest, no payments for the entire time you own the home!! You do have to repay the loan when you sell the home, but when else is someone going to offer you $15,000 just to buy a home??
If you'd like more info, give me a call!
Erin Goldbach
Designated Broker
Vanguard Platinum Realty
602 524 0286
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